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Carlos Slim tops Bill Gates as world's richest man

(CNN) -- Forbes magazine released its annual list of the world's richest people Wednesday, and for only the second time since 1995, Microsoft founder Bill Gates' name was not at the top.

This year, the title of "World's Richest" went to Mexican telecom mogul Carlos Slim, with a net worth of $53.5 billion. It marked the first time since 1994 that the top spot has been held by a non-U.S. billionaire, Forbes said.

Gates is the world's second richest person, with a net worth of $53 billion. Warren Buffett came in at number three this year, with a net worth of $47 billion.

The past year saw an increase in the number of billionaires, from 793 to 1,011, Forbes said. The number is still lower than the record 1,125 billionaires recorded in 2008.

Not only are there more billionaires than last year, but the ones at the top are even richer than last year. The top ten billionaires have a combined net worth of $342 billion, up from $254 billion in 2009, Forbes said.

Of the new billionaires for 2010, 62 made their debut from Asia, which has shown recovery from the global economic downturn.